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USD/JPY price analysis: Greenback retraces NFP-inspired spike against yen

  • USD/JPY gets a boost from the stellar Nonfarm Payrolls (NFP). 
  • The level to beat for bulls is the 109.03 resistance.
 

USD/JPY daily chart

 
USD/JPY is trading below the 109.00 figure and the 50/200-day simple moving average (DMA) on the daily time frame as the market is in a tight range for the third consecutive day. Earlier, the Nonfarm Payrolls (NFP) smashed market expectations with 266k vs. 180k forecast.
 

USD/JPY four-hour chart

 
The market is trading within ranges as the bulls are trying to regain the 109.00 handle above the 200 SMA. However, a daily close below the 108.58 support can see the market decline towards the 108.24 level. 
 

USD/JPY 30-minute chart

 
Next week, buyers might try to break the 109.03 resistance. If they do, resistances on the way up are seen near the 109.30 and 109.48 levels, according to the Technical Confluences Indicator

Additional key levels

USD/JPY

Overview
Today last price 108.7
Today Daily Change -0.06
Today Daily Change % -0.06
Today daily open 108.76
 
Trends
Daily SMA20 108.9
Daily SMA50 108.52
Daily SMA100 107.8
Daily SMA200 108.88
 
Levels
Previous Daily High 109
Previous Daily Low 108.65
Previous Weekly High 109.67
Previous Weekly Low 108.63
Previous Monthly High 109.67
Previous Monthly Low 107.89
Daily Fibonacci 38.2% 108.79
Daily Fibonacci 61.8% 108.87
Daily Pivot Point S1 108.61
Daily Pivot Point S2 108.46
Daily Pivot Point S3 108.26
Daily Pivot Point R1 108.96
Daily Pivot Point R2 109.15
Daily Pivot Point R3 109.31

 

 

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